The USDMXN is really trapped between the 20.00 level as support and the 20.63 level as resistance. To the upside, its most important resistance is at the 21.00 level and below the 20.00 level, its next support could be the 19.68 level.

Just bringing this pair to everyone's attention, we're getting close to a possible bounce to the upside. Could happen this week or next, we're ~ 1500 pips from a sweet spot. Always use a stop of course, things could get wild with Trump's government shutdown and all the talk about his border wall.

We are at our acceleration point for a possible longer-term buy. No guarantees of course, but worth a shot. This pair can get wild, expect a sweep of current lows, but again, we're in the neighborhood.

The USDMXN is at the 76.4% Fibo on the daily chart at the 19.00 level after retracing to the downside from the peak at the 20.65 zone in November. The 19.00 level may act as support, but if the pair continues falling, then the low at the 18.50 level may act as support. To the upside, the 61.8% Fibo at the 19.32 level may act as resistance in case of a pullback.

I'm long also, my trade from last week got stopped out. Today we reached another good entry zone, trying again. If the market keeps heading south from this point it will signal that there is no longer money in this pair, at least for now. I wouldn't recommend playing this market until we drop into the low 17s.

Ignored

Hey scotty, are you still holding your longs, had long positions from 19.07 and 19.04 for abt 3 days now, price dropped to 18.87 and is now at 19.06 after making a high of 19.11

{quote} Hey scotty, are you still holding your longs, had long positions from 19.07 and 19.04 for abt 3 days now, price dropped to 18.87 and is now at 19.06 after making a high of 19.11

Ignored

Yes, stops set to B/E and we walk away, forget about the trade for awhile. I will watch my weekly chart and make sure things are tracking accordingly. I will update when I close the trade, hopefully not for a while.

BTW, USDCAD is a similar trade, I'm long that pair also. These are the only pairs currently worth the trouble of trading IMHO. Everything else is running sideways and quiet (transaction costs kill), or at a place with significant retracement risk.

I have my eyes on USDTRY, but the timing isn't on our side yet, this one will be really interesting.

BTW, USDCAD is a similar trade, I'm long that pair also. These are the only pairs currently worth the trouble of trading IMHO. Everything else is running sideways and quiet (transaction costs kill), or at a place with significant retracement risk. I have my eyes on USDTRY, but the timing isn't on our side yet, this one will be really interesting.

Ignored

A agree, but i did miss my opportunity to long usdcad, usdmxn long accumulating negative swaps everyday, Thatís my only issue with it, but if it can climb as quick as it usually does the profit should compensate for it. I love usdmxn, can be very rewarding if youíre on the right side of it.